Borr Drilling Limited Announces Second Quarter 2025 Results

HAMILTON, Bermuda, Aug. 13, 2025 /PRNewswire/ -- Borr Drilling Limited (NYSE:BORR) ("Borr", "Borr Drilling" or the "Company") announces unaudited results for the six months ended June 30, 2025.

Highlights 

Total operating revenues of $267.7 million, an increase of $51.1 million or 24% compared to the first quarter of 2025

Net income of $35.1 million, an increase of $52.0 million compared to the net loss in the first quarter of 2025

Adjusted EBITDA of $133.2 million, an increase of $37.1 million or 39% compared to the first quarter of 2025

YTD 2025, the company was awarded 14 new contract commitments, representing approximately 2,584 days and $318 million of potential contract revenue

Other Events

In July 2025, the Company increased its liquidity by more than $200 million through an equity offering of $102.5 million, and commitments from commercial banks including existing lenders which have the effect of increasing available amounts under revolving credit facilities and more favourable terms for of its financial covenants.

Appointment of Bruno Morand as CEO, effective September 1, 2025, with Patrick Schorn becoming Executive Chair of the Company's Board of Directors.

CEO, Patrick Schorn commented:"Our second-quarter results were strong, with technical utilization of 99.6% ...